Canadian Medical Marijuana & Cannabis Industry News


Cannabis producer Hexo raises CA$46 million in public offering

Ontario-based cannabis grower Hexo on Monday announced the closing of an underwritten public offering worth 46 million Canadian dollars ($33 million). The offering sold 59,800,000 units for CA$0.77 each. Each unit included one common Hexo share and one common share purchase warrant, exercisable within five years at CAD$0.96 per share. Proceeds from the offering will […]

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Marijuana retailer Fire & Flower looks to raise CA$25 million

Canadian cannabis retailer Fire & Flower Holdings aims to raise up to 25 million Canadian dollars ($18 million) via two private placements, the company said Monday. The announcement comes as the number of private-sector recreational cannabis stores continues to grow in key Canadian markets, including British Columbia, Alberta and Ontario. Some Fire & Flower executives […]

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Aurora plans share consolidation to maintain NYSE listing

Canada’s Aurora Cannabis is undertaking a reverse share split by merging its common shares on a 12-to-one basis, effective May 11, in a bid to remain listed on the New York Stock Exchange. Aurora was warned by the NYSE in April that its shares, which have fallen below $1, do not meet the exchange’s listing […]

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Week in Review: Cannabis firm iAnthus can’t make interest payments, MA gov sued, COVID-19 causes slide in adult-use marijuana sales & more

Multistate marijuana operator iAnthus defaulted on interest payments, in part blaming the coronavirus. In addition, the New York-based company revealed that its CEO is being investigated for a potential, but unidentified, conflict of interest. The company also postponed its financial results. MJBizDaily takeaway: COVID-19 aside, the disclosures from iAnthus are additional red flags for a company […]

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LivWell buys Denver cannabis edibles firm Sweet Grass

LivWell Enlightened Health, one of Colorado’s largest marijuana store owners, acquired Denver-based Sweet Grass Kitchen, one of the oldest marijuana edibles brands in the state. The acquisition price was not disclosed, according to Denver alt-weekly newspaper Westword. Sweet Grass products will be introduced into every market where LivWell has a presence and “as we continue […]

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Ontario approaches 900 cannabis Retail Operator License applications

Ontario’s cannabis regulator has received nearly 900 Retail Operator License (ROL) applications for marijuana stores since it opened up the process to all comers on Jan. 6. That figure, provided to Marijuana Business Daily by the Alcohol and Gaming Commission of Ontario (AGCO), represents roughly 100 more ROL applications than the regulator had received as of […]

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Ontario cannabis pickup and delivery: Expert tips to get your store back in business

Ontario’s private-sector cannabis stores have at least a 14-day window to continue serving customers through curbside pickups and home delivery. That’s thanks to an emergency order issued late Tuesday by the provincial government permitting retailers to offer such services for two weeks. Ontario had previously ordered private cannabis stores to close for two weeks as of April 4 […]

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MJBizDaily releases report on how marijuana firms can handle crisis times

Marijuana Business Daily published a free online report to provide cannabis companies with actionable information they can use to navigate a crisis such as the current coronavirus pandemic. The 28-page report, “Crisis Management in Cannabis,” offers dozens of prevention and management tips that marijuana businesses are using during the coronavirus pandemic. The report – written and […]

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Ontario pauses new cannabis store authorizations, eases regulations

Ontario’s cannabis store regulator has hit pause on new store authorizations, as the province’s existing retailers scramble to offer temporary curbside pickups and delivery. “The (Alcohol and Gaming Commission of Ontario) will not issue new store authorizations until the government’s Emergency Order has been lifted,” said the regulator in a bulletin. However, the AGCO will still […]

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Ontario permits deliveries, curbside pickup in boost to cannabis stores

Shuttered private-sector cannabis retailers in Ontario can get back to business via curbside pickup and home delivery, the provincial government announced. An emergency order signed late Tuesday could be a temporary lifeline for Ontario’s retail marijuana stores, which were initially included on the government’s list of essential services as the province grapples with the COVID-19 pandemic, […]

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Organigram temporarily lays off 400 workers due to COVID-19

New Brunswick-based cannabis cultivator Organigram Holdings has temporarily laid off roughly 400 employees as a result of the COVID-19 pandemic, the company announced late Monday. That reduction represents about 45% of Organigram’s workforce. The layoffs were made “primarily to help boost COVID-19 containment efforts” and the majority were voluntary, the company said in a news release. […]

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